LONDON--(BUSINESS WIRE)--The global electricity retailing market is expected to grow by USD 329.9 billion as per Technavio. This marks a significant market slowdown compared to the previous year's growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 3%. Request free sample pages
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The market is driven by the growing popularity of electric vehicles (EVs). In addition, increasing innovation among players due to electricity retailing is anticipated to boost the growth of the electricity retailing market.
The electric vehicles (EVs) market is witnessing significant growth with increasing efforts by vendors to reduce the dependence on fossil fuels and control vehicle emissions. In addition, favorable government policies that encourage vehicle owners and municipalities to purchase EVs for a clean environment are further stimulating the growth of EVs. The growing demand for EVs will encourage the need for charging stations, which in turn will drive the electricity retailing market during the forecast period.
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Major Five Electricity Retailing Companies:
Centrica Plc owns and operates the business under various segments such as Centrica Consumer, Centrica Business, and Exploration & Production. The company offers competitive and reliable electricity and related services to retail and wholesale customers.
Duke Energy Corp.
Duke Energy Corp. operates its business under three segments, which include Electric Utilities and Infrastructure; Gas Utilities and Infrastructure; and Commercial Renewables. The company’s key offering is electricity generation and sales. Duke Energy Corp. provides electricity to retail electric customers across the US.
Enel Spa is engaged in the electricity generation, distribution, and sales. The company provides a range of products and services under its intelligent charging solutions category. This range is designed for electric mobility focused on individuals, companies, and government organizations.
Huadian Power International Corp. Ltd.
Huadian Power International Corp. Ltd.’s key offerings include electricity generation and sale. The majority of electricity generated is supplied to the local power grid companies where the power plants are located.
Tata Power Co. Ltd.
Tata Power Co. Ltd. operates the business under the following segments: Power and Others. The company’s key offering is electricity supply. The company generates, transmits, and distributes electricity across India. In January 2019, the company won the 3rd ICSI CSR Excellence Award for the year 2018.
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Electricity Retailing Application Outlook (Revenue, USD bn, 2019-2023)
Electricity Retailing Regional Outlook (Revenue, USD bn, 2019-2023)
- North America
- Key leading countries
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